Twilio to lay off 11% of workforce
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Re: Twilio to lay off 11% of workforce
#2Sheesh. That's a pretty large chunk... ~865 people.
Re: Twilio to lay off 11% of workforce
#3> The cloud communications software builder has been striving for profitability in 2023, and the restructuring plan aims to improve operating margins, create a better selling capacity and reduce operating costs.
If you look at all the layoffs we had this year, the vast majority are by companies that are VC funded and unprofitable. It would be a scary time to work for a VC backed company, because you're one missed funding round away from getting kicked to the curb, and VC's seem to be clutching the funds in this economy.
Re: Twilio to lay off 11% of workforce
#4It seems a lot of the layoffs are from over-hiring in 2020-21 ?
Re: Twilio to lay off 11% of workforce
#5> The cloud communications software builder has been striving for profitability in 2023, and the restructuring plan aims to improve operating margins, create a better selling capacity and reduce operating costs. If you look at all the layoffs we had this year, the vast majority are by companies that are VC funded and unprofitable. It would be a scary time to work for a VC backed company, because you're one missed fun…
The real problem in my mind is that it's difficult for employees to judge whether a company is making disciplined hires in the first place.
The ballpark method I've been using has been to ask for the ARR and divide that number by the employee count. I don't know that this is a real business indicator, but it seems to me that the closer that number is to a workable salary, the better.
Maybe all tech startups are all using VC funds, but they're not all created equal in terms of management quality. There are a handful of startups that boast never holding a formal layoff.
Re: Twilio to lay off 11% of workforce
#6Sheesh. That's a pretty large chunk... ~865 people.
curious what % are software devs compared to sales/hr etc..
Re: Twilio to lay off 11% of workforce
#7And it will be just fine
Re: Twilio to lay off 11% of workforce
#8Another company carelessly overhiring. OR maybe using opportunity to do some trimming?
edit: Where does one check hiring metrics for company before accepting contract?
Re: Twilio to lay off 11% of workforce
#9> The cloud communications software builder has been striving for profitability in 2023, and the restructuring plan aims to improve operating margins, create a better selling capacity and reduce operating costs. If you look at all the layoffs we had this year, the vast majority are by companies that are VC funded and unprofitable. It would be a scary time to work for a VC backed company, because you're one missed fun…
I think this has been true regardless of the economy climate, but actually the climate has just resulted in more companies missing that funding round.
Re: Twilio to lay off 11% of workforce
#10Another company carelessly overhiring. OR maybe using opportunity to do some trimming? edit: Where does one check hiring metrics for company before accepting contract?
They were overhiring. I talked to their recruiter last year. They had pretty aggressive hiring goals. Same story with Zillow, Upstart, Facebook and a bunch of companies. All of their stocks tanked by more than 50% since then.